Tesla chairwoman has sold $100 million worth of TSLA as she lets Musk destroy the brand
Tesla chairwoman Robyn Denholm has sold another $33 million worth of Tesla stock (TSLA) as she lets Elon Musk destroy the company’s brand.
As the head of Tesla’s board of directors, Denholm is amongst the few people who actually have oversight over Elon Musk at Tesla.
While Musk is CEO, he owns only about 13% of Tesla’s shares. Still, he is seen as having complete control over the company and the board, which is actually what led to a judge rescinding his compensation package last year.
That’s partly because when he “negotiated” himself a $55 billion compensation package with the board, the board also gave itself exorbitant compensation, which it eventually had to partly give back to the company after shareholders sued it for excessive compensation.
Despite Musk making threats to shareholders to get more control over Tesla and resorting to resource tunneling, the board, including Denholm, has remained silent.
Meanwhile, Denholm has been pocketing generational wealth through Tesla. [Continue reading…]